Sentry Investment Management LLC Decreases Holdings in PACCAR Inc (NASDAQ:PCAR)

Sentry Investment Management LLC cut its stake in shares of PACCAR Inc (NASDAQ:PCAR) by 9.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,736 shares of the company’s stock after selling 294 shares during the quarter. Sentry Investment Management LLC’s holdings in PACCAR were worth $267,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in PCAR. Vanguard Group Inc. grew its position in shares of PACCAR by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 36,485,080 shares of the company’s stock valued at $3,213,241,000 after acquiring an additional 698,784 shares during the period. State Street Corp grew its position in shares of PACCAR by 49.0% during the 1st quarter. State Street Corp now owns 21,345,321 shares of the company’s stock valued at $1,562,477,000 after acquiring an additional 7,020,923 shares during the period. Geode Capital Management LLC grew its position in shares of PACCAR by 53.3% during the 1st quarter. Geode Capital Management LLC now owns 11,742,555 shares of the company’s stock valued at $858,948,000 after acquiring an additional 4,082,677 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of PACCAR by 0.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 8,587,576 shares of the company’s stock valued at $730,116,000 after acquiring an additional 23,865 shares during the period. Finally, Northern Trust Corp boosted its holdings in PACCAR by 6.0% in the 3rd quarter. Northern Trust Corp now owns 5,540,803 shares of the company’s stock worth $471,079,000 after buying an additional 316,001 shares during the period. 64.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PCAR. Truist Financial began coverage on shares of PACCAR in a report on Thursday, March 14th. They issued a “hold” rating and a $117.00 target price for the company. The Goldman Sachs Group upped their target price on shares of PACCAR from $106.00 to $121.00 and gave the stock a “neutral” rating in a report on Tuesday. TD Cowen upped their target price on shares of PACCAR from $91.00 to $108.00 and gave the stock a “market perform” rating in a report on Wednesday, January 24th. JPMorgan Chase & Co. upped their target price on shares of PACCAR from $135.00 to $140.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Bank of America raised shares of PACCAR from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $84.00 to $97.00 in a report on Friday, January 19th. Eight equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, PACCAR presently has a consensus rating of “Moderate Buy” and a consensus price target of $110.82.

PACCAR Stock Down 0.4 %

Shares of NASDAQ PCAR opened at $117.54 on Wednesday. The firm’s 50-day moving average price is $115.48 and its 200-day moving average price is $100.46. The company has a current ratio of 2.40, a quick ratio of 2.21 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $61.59 billion, a price-to-earnings ratio of 13.40, a P/E/G ratio of 1.79 and a beta of 0.92. PACCAR Inc has a 12-month low of $68.40 and a 12-month high of $125.50.

PACCAR (NASDAQ:PCAR) last announced its earnings results on Tuesday, January 23rd. The company reported $2.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.25 by $0.45. The firm had revenue of $8.59 billion for the quarter, compared to analysts’ expectations of $8.48 billion. PACCAR had a net margin of 13.10% and a return on equity of 33.17%. The business’s revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.76 EPS. On average, equities research analysts anticipate that PACCAR Inc will post 8.16 EPS for the current fiscal year.

PACCAR Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Thursday, February 15th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 0.92%. The ex-dividend date was Wednesday, February 14th. PACCAR’s dividend payout ratio is presently 12.31%.

Insider Activity

In other news, VP Todd R. Hubbard sold 4,829 shares of PACCAR stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $102.12, for a total transaction of $493,137.48. Following the completion of the sale, the vice president now owns 5,726 shares of the company’s stock, valued at $584,739.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, VP Todd R. Hubbard sold 4,829 shares of PACCAR stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $102.12, for a total transaction of $493,137.48. Following the transaction, the vice president now directly owns 5,726 shares of the company’s stock, valued at $584,739.12. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Todd R. Hubbard sold 2,000 shares of PACCAR stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $106.15, for a total transaction of $212,300.00. Following the transaction, the vice president now directly owns 5,726 shares in the company, valued at $607,814.90. The disclosure for this sale can be found here. Over the last quarter, insiders sold 153,496 shares of company stock valued at $15,834,812. Corporate insiders own 2.02% of the company’s stock.

About PACCAR

PACCAR Inc designs, manufactures, and distributes light, medium, and heavy-duty commercial trucks in the United States, Canada, Europe, Mexico, South America, Australia, and internationally. It operates through three segments: Truck, Parts, and Financial Services. The Truck segment designs, manufactures, and distributes trucks for the over-the-road and off-highway hauling of commercial and consumer goods.